27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
A whale with a lot of money to spend has taken a noticeably bearish stance on Marvell Tech.
Looking at options history for Marvell Tech (NASDAQ:MRVL) we detected 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 57% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $184,910 and 11, calls, for a total amount of $521,098.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $72.5 for Marvell Tech over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Marvell Tech's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Marvell Tech's whale trades within a strike price range from $50.0 to $72.5 in the last 30 days.
Marvell Tech Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | SWEEP | NEUTRAL | 07/14/23 | $61.00 | $122.5K | 4.0K | 29 |
| MRVL | PUT | SWEEP | BEARISH | 09/15/23 | $72.50 | $109.4K | 41 | 152 |
| MRVL | CALL | SWEEP | BEARISH | 09/15/23 | $50.00 | $69.1K | 1.7K | 54 |
| MRVL | CALL | TRADE | BULLISH | 07/14/23 | $61.00 | $52.5K | 4.0K | 529 |
| MRVL | PUT | SWEEP | BEARISH | 08/18/23 | $65.00 | $45.9K | 803 | 31 |
Where Is Marvell Tech Standing Right Now?
- With a volume of 4,675,988, the price of MRVL is down -1.64% at $64.3.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 41 days.
What The Experts Say On Marvell Tech:
- Stifel downgraded its action to Buy with a price target of $65
- Keybanc has decided to maintain their Overweight rating on Marvell Tech, which currently sits at a price target of $80.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Marvell Tech, which currently sits at a price target of $68.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Marvell Tech, Benzinga Pro gives you real-time options trades alerts.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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